Guideline Value for Muthamil Nagar 138th Street

Muthamil Nagar 138th Street guideline value

The current guideline value of Muthamil Nagar 138th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, and it falls under the Residential Special Type - I land classification.

How the guideline value of Muthamil Nagar 138th Street has changed

The guideline value for Muthamil Nagar 138th Street has seen several revisions over the years. The oldest recorded figure is from 2012, which was Rs 2,500 per sq.ft. In 2023, this value increased to Rs 3,000 per sq.ft, marking a 20% rise. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year. There are no recorded figures for the years 2002, 2003, 2007, and 2017 for this street.

Overall, from 2012 to 2024, the guideline value has increased by 32%. This consistent rise indicates a growing valuation of the property in this area, with the current figure being significantly higher than the previous revisions.

Guideline values in Kodungaiyur

Kodungaiyur has a range of guideline values across its 1,318 streets under the Madhavaram SRO, with figures for 2024 ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing Muthamil Nagar 138th Street's guideline value above this median.

• Muthamil Nagar 137th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 139th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 136th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 140th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 169th Street: Rs 3,300 per sq.ft (2024)
• Muthamil Nagar 110th Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Muthamil Nagar 138th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It's important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations based on your specific property transaction.

Which Sub Registrar Office covers Muthamil Nagar 138th Street?

The Muthamil Nagar 138th Street falls under the jurisdiction of the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Kodungaiyur

The guideline value is a crucial factor when registering property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

Frequently asked questions

What is the current guideline value of Muthamil Nagar 138th Street?

The current guideline value of Muthamil Nagar 138th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 3,000 per sq.ft in 2023, and then to Rs 3,300 per sq.ft in 2024. There are no recorded figures for the years 2002, 2003, 2007, and 2017.

What is the land classification for Muthamil Nagar 138th Street?

The land classification for Muthamil Nagar 138th Street is Residential Special Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the higher value between the guideline value and the sale price, while the registration fee is 2%. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would be Rs 2,97,000.

Which office handles the registration for Muthamil Nagar 138th Street?

The Madhavaram Sub Registrar Office handles the registration for Muthamil Nagar 138th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.